Abstract: A method for fine grain casting prealloyed metal comprising the steps of providing first and second electrodes within an enclosed chamber, said first and second electrodes being spaced so as to form a gap between them, at least one of said electrodes being an ingot having a composition corresponding to the composition of a prealloyed continuous casting to be formed; and heating said electrodes to a temperature sufficient to melt said at least one electrode into molten metal which falls from said at least one electrode into a mold wherein the molten metal is at least partially solidified; wherein the improvement comprises causing said molten metal to fall directly from said at least one electrode into a mold so as to result in a casting having a fine grained structure.